FORT WAYNE, IND. — WaterFurnace International, a geothermal and water source heating and cooling solutions provider, has broken ground on a 173,000-square-foot expansion of its headquarters in Fort Wayne. The $14 million project will more than double the current size of the property. The entire facility will continue to be heated and cooled by WaterFurnace geothermal heat pumps that draw from the renewable energy of its existing pond. WaterFurnace says its expansion comes on the heels of two record-breaking years, driven by a growing demand for renewable energy technologies and the currently available 30 percent federal tax credit for geothermal systems.
MELVILLE, N.Y. — Resideo Technologies has extended its 100,000-square-foot office lease in the Long Island community of Melville. The provider of home automation solutions will remain at 2 Corporate Center, a 291,230-square-foot building that is currently undergoing a capital improvement program, for an undisclosed term. Phil D’Avanzo of Cushman & Wakefield represented the landlord, Princeton International Properties, in the lease negotiations. The tenant representative was not disclosed.
PHOENIX — Cushman & Wakefield has arranged the sale of leasehold interest in Sky Harbor Center, an office campus on 37 acres in Phoenix. A private investment partnership acquired the asset for $44.3 million. Located at 825 Buckeye, Sky Harbor Center consists of five two- and three-story buildings offering a total of 534,849 square feet. The campus features a fully renovated café, coffee/juice bar, conference center and outdoor areas for seating and events, as well as surface and parking options. Bank of America has occupied the five office buildings since 1989. The ground lessor is the City of Phoenix. Steve Lindley and Alexandra Loye of Cushman & Wakefield, along with Will Strong and Molly Hunt of the firm’s National Industrial Advisory Group – Mountain West and Eric Wichterman and Mike Coover of the firm’s Private Capital Group, represented the seller in the transaction. Cushman & Wakefield’s Jerry Roberts and Pat Boyle provided leasing advisory for the property.
CHICAGO — A joint venture between The Prime Group Inc. and CRG, the development and investment management arm of Clayco, has acquired the 40-story historic Jewelers Building in Chicago. Located at 35 E. Wacker Drive, the Jewelers Building comprises 556,200 square feet of rentable office space. The building is currently 70 percent occupied. Designed by Giaver & Dinkelber, the Jewelers Building was originally built in 1926. At the time of its completion, it was the tallest building west of New York City. The building is recognized by the National Register of Historic Places. Chicago-based architecture firm Goettsch Partners recently renovated the lobby, main entry and storefronts at the property. The price was not disclosed. According to CoStar, the price was expected to be more than $70 per square foot, which would equate to approximately $39 million. However, those numbers were based on Prime’s original offer in November before CRG was brought in as a partner. The previous owner had defaulted on over $50 million in debt on the building, according to multiple sources, leading to the sale. Although Prime Group’s initial plans for the property in November called for a potential hotel conversion, that concept has apparently been sidelined. As an existing tenant …
DALLAS — Workbox, a provider of flexible workspaces and coworking solutions, has opened a 50,000-square-foot facility in the Victory Park area of Dallas. Members will have access to two floors of workspace, lounges, conference rooms, open kitchens and offices for teams ranging from one to 130 individuals. A new tenant-only fitness center and daytime lounge are also expected to be completed later this month. The location is the first in Dallas and ninth nationally for Workbox.
AUSTIN, TEXAS — National general contractor JT Magen has completed the renovation of the 8,000-square-foot office space of JBGoodwin Realtors in Austin. The space is located at 1613 S. Capital of Texas Highway in the city’s Westlake neighborhood. The project increased the flow of natural light via floor-to-ceiling windows and added a variety of functional spaces for staff training and client hosting, as well as additional desking areas. Seventh Spectrum Studios handled the interior design.
NEW YORK CITY — ERG Commercial Real Estate has arranged a $16.5 million loan for the refinancing of two office and retail buildings in Manhattan’s SoHo neighborhood. The adjacent buildings at 65-67 Greene St. total 21,321 square feet and were fully leased at the time of sale to tenants such as outdoor apparel and equipment retailer Norrona and PatBo clothing store. Ryan Lewis of ERG Commercial originated the debt. The borrower and direct lender were not disclosed.
MELVILLE, N.Y. — Estée Lauder has signed a 43,000-square-foot office lease in the Long Island community of Melville. The beauty and cosmetics provider is taking space at 2 Corporate Center Drive, a 291,230-square-foot building that is currently undergoing a capital improvement program. Phil D’Avanzo of Cushman & Wakefield represented the landlord, Princeton International Properties, in the lease negotiations. Jeff Nemshin of Paragon Group represented Estée Lauder.
NEW YORK CITY — Cushman & Wakefield has negotiated a 16,749-square-foot, 16-year office lease renewal at 250 Hudson St. in Lower Manhattan. The tenant, Writers Guild of America East Inc., will remain in its space on the seventh floor of the 400,000-square-foot building, which it has occupied since 2010. David Hoffman and Sam Hoffman of Cushman & Wakefield represented the tenant in the lease negotiations. Adam Rappaport and Brett Greenberg represented the landlord, Jack Resnick & Sons, on an internal basis.
QUEEN CREEK, ARIZ. — Development firm Creation is set to break ground on The Switchyard, a $120 million mixed-use development located at the northeast corner of Ellsworth and Ocotillo roads in the Phoenix suburb of Queen Creek. Plans for the 10-acre project include the development of 54,000 square feet of restaurant, retail, residential and office space. The retail portion of the development will include a 3,800-square-foot Postino wine café and an 11,900-square-food restaurant called The Porch, which will include an expansive outdoor patio. Creation plans to break ground on the multi-phase project later this year. Phase I is scheduled for completion in early 2026. The development team includes Dallas-based architect GFF Design and general contractor LGE Design Build. Creation is a real estate development firm with dual headquarters in Phoenix and Dallas. The company has a $4.5 billion pipeline of ground-up development currently underway across six states. — Katie Sloan